new investor services reply

Hi i have posted this on another thread but beleive it should have its own.



I emailed Investor services today and this is the response

P.S i have also replied asking if this statement is still due this week as they stated last week it was.


Hi Harry,



Thank you for your email.



The drilling and sample results required for the JORC statement have already been completed by SRK.



SRK submitted a preliminary report to ADY which calculates the inferred, measured and proved resources of the Mariposa and Mirador mines based on a Fe cut off grade between 19% to 23%.



The cut grade require by Santa Barbara to mine economically is about 9%. Therefore the resource that we have received can be significantly upgraded.



SRK is required to complete a resource statement based on a Fe cut off grade of 9%. Once this report is submitted to and approved by ADY, a JORC statement will be released to the ASX and published on our website.





Kind regards,



Maria Vazquez

Admiralty Resources NL

Level 14, 200 Queen Street

Melbourne VIC 3001

P: +61 3 9642 8787

F: +61 3 8677 6949

E: [email protected]

W: www.ady.com.au